Why ZIOPHARM Oncology Inc. (ZIOP) stock plummeted in the after-hours on Friday?

ZIOPHARM Oncology Inc. (ZIOP) shares plummeted 7.41% in after-hours on Friday, December 17, 2021, and closed the daily trading at $1.25. However, in the regular trading session of Friday, ZIOP’s stock gained 14.41%. ZIOP shares have fallen 54.55% over the last 12 months, and they have moved up 10.66% in the past week. Over the past three months, the stock has lost 25.82%, while over the past six months, it has declined 48.67%.

Let’s briefly discuss its recent news and developments.

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ZIOP preclinical data presentation at a recent event

Ziopharm Oncology, Inc. (ZIOP), presented preclinical data highlighting the potential of neoantigen-specific TCR-T cells for the treatment of solid tumors at the Society for Immunotherapy of Cancer 2021 Annual Meeting, which was held on November 13, 2021.

ZIOP latest financial results

On November 08, 2021, Ziopharm Oncology, Inc. (ZIOP) announced financial results for the third quarter ended September 30, 2021.

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Q3 2021 financial highlights

  • ZIOP collaborative revenue was $398,000 in Q3 2021 compared to nil revenue in Q3 2020.
  • Research and development expenses were $14.5 million for the quarter ended September 30, 2021, as compared to $14.0 million for the same period in 2020.
  • General and administrative expenses were $8.2 million for the quarter ended September 30, 2021, as compared to $6.4 million in Q3 2020.
  • It suffered a net loss of $22.7 million, or $0.11 net loss per share in Q3 2021 compared to a net loss of $20.3 million, or $0.10 net loss per share, for the same period in 2020.
  • As of September 30, 2021, Ziopharm had approximately $91.7 million in cash and cash equivalents.

ZIOP reduced its workforce

On September 27, 2021, Ziopharm Oncology, Inc. (ZIOP), announced a restructuring and eliminated 60 positions from its workforce, enabling the company to advance its TCR program. The Company expects the changes will extend the cash runway into the first half of 2023.

The first patient in its TCR-T Library Phase I/II clinical trial is expected to be dosed in the first half of 2022 after experiencing unforeseen delays caused by inadequate resources at its contract manufacturer.

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Well, there is no recent news behind its loss and gains on Friday. Let’s see how it performs on Monday?

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